In this interview, Arina Man, CEO of K2G AG, speaks with Janis Lucaus, Chairman of Balcia Insurance SE, about the evolving insurance landscape. Janis shares his passion for teamwork, the impact of technology like AI and blockchain on the industry, and the challenges posed by global events and climate change. He also reveals what motivates him and his favorite apps that keep him connected and inspired.
Arina Man: What do you like most about your job?
Janis Lucaus: What I enjoy most about my job is definitely the opportunity to collaborate with my team. Together, we're always pushing to set new, positive standards in the non-life insurance space. Every time we achieve something great and see that our clients and partners appreciate what we've done, it gives me a real sense of accomplishment. It's that feedback and trust that keeps me motivated. I love that we're not just offering products, but actually creating solutions that genuinely help our clients in their day-to-day lives and give them the confidence to move forward with their plans. That’s what really energizes me.
Arina Man: Has the insurance industry changed in the last three years? If so, how?
Janis Lucaus: The insurance industry has seen major changes over the last three years, driven by global events like Covid-19 and the war in Ukraine. These challenges have forced us to adapt quickly, rethink our operations, and develop new solutions for emerging risks. But the biggest shift has been the rise of next-gen technologies like AI, which is creating huge opportunities to automate processes, make insurance more accessible, and boost efficiency. It’s reshaping the way we work and allowing us to better meet the needs of today’s world.
Arina Man: Which technological developments will change the insurance industry the most in the next three years?
Janis Lucaus: Over the next few years, AI is set to transform the insurance industry by streamlining processes like claims, underwriting, and even customizing products to fit individual needs. Blockchain will enhance security and transparency, while IoT will deliver real-time data from smart devices like cars and homes, enabling insurers to assess risks with greater accuracy. Together, these technologies will make insurance more efficient, faster, and far more customer-centric.
Arina Man: What do you think are the current challenges in the insurance industry?
Janis Lucaus: One of the biggest challenges in the non-life insurance industry right now is dealing with increasingly unpredictable risks. Natural disasters, driven by climate change, are happening more frequently and with greater intensity, which is pushing insurers to rethink how they assess and price risk. Another challenge is staying ahead in a rapidly changing digital landscape—customers expect faster, more personalized service, and that requires significant investment in new technology like AI, data analytics, and automation. On top of that, there’s pressure to adapt to evolving regulatory environments, ensuring compliance while still being competitive. Balancing all these factors while maintaining profitability and providing high-value solutions for customers is a constant challenge.
Arina Man: What is your favorite app and why?
Janis Lucaus: I’d have to go with the Balcia app! 😊 It’s not just user-friendly; it’s packed with fun entertainment features and a cool loyalty program. But I can’t forget about LinkedIn. It’s my go-to for staying updated on the business scene, particularly when it comes to my clients and partners. What I really love is that most of the content showcases positive events and achievements. It gives me a nice boost, especially alongside the usual news and updates on insurance claims. It’s a great way to stay informed while soaking up some good vibes!